Trust Deed Payment Holiday

[GRobertson]

Hi

I'm in the second year of my Trust Deed. Is it possible to arrange to miss a Trust Deed payment then add it on to the end of the term?

Thanks
Graham

[Geraldine]

Hi Graham and welcome to the forum.

I am not 100% sure when it comes to Trust Deeds but I think they work like IVAs in the respect that you could take a payment holiday if you need one. Hopefully Steve will be along shortly to confirm.

[GRobertson]

Thanks for that anyway!

[Steve Jackson]

Hello Graham

Geraldine is absolutely right. If you need to take a payment holiday during your Trust Deed, this is possible as long as the request is reasonable. Your Trustee will not want to allow a holiday unless the circumstances are absolutely necessary but if this is the case, it should not be a problem. The correct thing to do is contact your Trustee and explain the situation. I am sure they will be able to help.